A booming construction industry has not been enough to stop a Hawke’s Bay building company from going under – leaving dozens of homes unbuilt. About 100 subcontracting companies have also been left out of pocket. Just a month after building company owner Rob Fargher told Hawke’s Bay Today that he was “rushed off his feet”,…
DetailsJSW Steel is all set to sign a term sheet with Algerias Cevital to buy Italys second largest steel firm Aferpi for almost Rs. 600 crore JSWs senior officials are in Italy and a term sheet is likely to be signed tomorrow, a source told The Hindu. The government will announce the deal after the…
DetailsMultiple sources familiar with William Hill Australia’s accounts have confirmed the company extends large lines of credit to Mr McGrath, who bets under a pseudonym and incurs average gambling losses of about $10 million a year. Mr McGrath has not settled his debt for some time, they said, leaving William Hill owed $16.2 million on its…
DetailsThe deal, which Noble says would allow it to continue operating, would hand the lion’s share of the company’s remaining value to creditors willing to participate in a new trade finance facility. That’ll include hedge funds from the so-called ad hoc group that’s underwriting the facility. What’s more, Noble’s management will receive an equity stake…
DetailsIts no fun being in debt. Creditors want to chase you, the debts increase as you procrastinate about paying them, and you literally feel indebted and guilty, especially if those creditors are friends or family. There are studies about the effects of debt on personal well-being. Micro-economists have also gathered evidence that poor people are the…
DetailsBLP hints at contents of PAC report The Opposition Barbados Labour Party (BLP) is alluding to unprecedented horrors and scandals in the report on the investigation by the Public Accounts Committee (PAC) of Parliament into the operation of the National Housing Corporation (NHC). The report was the subject of much controversy last week with Acting…
DetailsThe reorganization of Tatas realty and infrastructure businesses is being seen as a part of Tata Sons chairman N. Chandrasekarans business restructuring plan for the larger Tata group. Photo: Abhijit Bhatlekar/Mint Mumbai: Tata Sons Ltd, the holding company of the Tata group, on Thursday said it was reorganizing its real estate and infrastructure businesses to…
DetailsBLP hints at contents of PAC report The Opposition Barbados Labour Party (BLP) is alluding to unprecedented horrors and scandals in the report on the investigation by the Public Accounts Committee (PAC) of Parliament into the operation of the National Housing Corporation (NHC). The report was the subject of much controversy last week with Acting…
DetailsMumbai: Ananda Krishnan-led Aircel has filed for bankruptcy, citing “troubled times” in a “highly financially stressed” industry. Aircel and two other entities – Aircel Cellular and Dishnet Wireless – on Wednesday filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016 at the National Company Law Tribunal (NCLT), Mumbai. The fate…
DetailsIssues surrounding distressed debt are growing in importance but, as Alan McGee points out, a number of schemes are already in place that can lead to equitable solutions THE recent controversy over the impending sale of non performing loans by PTSB, AIB and Ulster Bank has once again raised public awareness of dealing with distressed…
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